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Handling Residential Real Estate Transactions in Massachusetts

Your best guide for doing the deal

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  • Product Number: 1970312B00
  • Publication Date: 4/6/2017
  • Edition: 4th Edition 2017
  • Copyright: © 2017 MCLE, Inc.
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  • Product Description
  • Table of Contents
  • Editors & Authors
  • Product Description

    Product Description

    This trusted resource since 1997 offers essential guidance for handling a residential real estate transaction in Massachusetts from start to finish. Practitioners experienced in the residential real estate field take you through all the details—from the initial meeting with your client to the closing table, and every step along the way. Understand the nuts and bolts of the purchase and sale agreement, financing, home inspections and environmental issues, title insurance, and deeds.

    Recent updates:

    • Update: March 2017

      Dear Subscriber:

      Thank you for keeping your practice library up-to-date with the 2017 revised edition of Handling Residential Real Estate Transactions in Massachusetts. Some of the many new topics covered in the book include

      • the new TILA-RESPA Integrated Disclosure (TRID) rule,
      • the Massachusetts Stretch Code, which requires that municipalities adopt advanced energy conservation codes for buildings,
      • 2015 Mass. Acts c. 141 (known as the "Ibañez" statute),
      • Pinti v. Emigrant Mortgage, Co., 472 Mass. 226 (2015), and
      • the various types of tax liens that the Commonwealth can impose on real property.

      We at MCLE trust that you will find this updated material useful in your daily practice and valuable in keeping your real estate law library current.

      Cordially,

      Alexis J. LeBlanc, Esq., MCLE Publications Attorney

  • Table of Contents

    Table of Contents

    expand all
    Chapter 1 expand

    Checklist 1.1

    - Purchase and Sale Conference Checklist for Representing Seller Buy Form

    Checklist 1.2

    - Buyer’s Checklist for Purchase and Sale Agreement Buy Form

    Checklist 1.3

    - Buyer’s Condominium Checklist (Supplement to Buyer’s Checklist for Purchase and Sale Agreement) Buy Form

    Checklist 1.4

    - Checklist of Typical Contents of Initial Letter to Seller Client Buy Form

    Checklist 1.5

    - Checklist of Typical Contents of Initial Letter to Buyer Client Buy Form
    Chapter 2 expand

    The Contracts: The Offer to Purchase and the Purchase and Sale Agreement

    Buy Chapter

    Exhibit 2A

    - Property Transfer Lead Paint Notification and Property Transfer Notification Certification Buy Form

    Exhibit 2B

    - GBREB Form: Offer to Purchase Contingency Addendum Buy Form

    Exhibit 2C

    - REBA Form 9A: Lead Paint Rider for Residential Property Constructed Prior to 1978 Buy Form

    Exhibit 2D

    - Tenant Lead Law Notification and Tenant Certification Form Buy Form

    Exhibit 2E

    - GBREB Form: Offer to Purchase Real Estate Buy Form

    Exhibit 2F

    - REBA Form 9: Offer to Purchase Real Estate Buy Form

    Exhibit 2G

    - Sample Purchase and Sale Agreements Buy Form

    Exhibit 2H

    - REBA Ethical Standard No. 1: Consideration Recited in Deeds Buy Form

    Exhibit 2I

    - REBA Practice Standard No. 19: Home Equity Loan Discharges Buy Form

    Exhibit 2J

    - REBA Practice Standards Nos. 1, 5, and 7 (Adjustments) Buy Form

    Exhibit 2K

    - Sample Use and Occupancy Agreement (Buyer) Buy Form

    Exhibit 2L

    - Sample Use and Occupancy Agreement (Seller) Buy Form
    Chapter 3 expand

    Financing a Residential Real Estate Transaction

    Buy Chapter

    Checklist 3.1

    - Checklist for Residential Real Estate Closing Buy Form

    Exhibit 3A

    - Loan Estimate Buy Form

    Exhibit 3B

    - Fixed and Adjustable Rate Notes Buy Form

    Exhibit 3C

    - Sample Mortgage with Riders Buy Form

    Exhibit 3D

    - Uniform Residential Loan Application Buy Form

    Exhibit 3E

    - Lead Paint Agreement Buy Form

    Exhibit 3F

    - Attorney General’s Consumer Protection Disclosure Forms Buy Form
    Chapter 4 expand

    Due Diligence: Home Inspections and Environmental and Land Use Law

    Buy Chapter
    Philip B. Posner, Esq., Law Office of Philip B. Posner

    Checklist 4.1

    - Checklist for Environmental Review of Residential Property Buy Form

    Checklist 4.2

    - Checklist for Purchasing a Residential Building Lot Buy Form

    Exhibit 4A

    - Sample Home Inspector’s Form Buy Form

    Exhibit 4B

    - Home Inspection Report Minimum Standards Buy Form

    Exhibit 4C

    - MassDEP Frequently Asked Questions Concerning Title 5 Buy Form

    Exhibit 4D

    - MassDEP Guidance on Inspection of Subsurface Sewage Disposal Systems Buy Form

    Exhibit 4E

    - MassDEP Subsurface Sewage Disposal System Inspection Form Buy Form

    Exhibit 4F

    - MassDEP Consumer Protection Tips on On-Site System Inspections and Repairs Buy Form

    Exhibit 4G

    - Property Transfer Lead Paint Notification Buy Form

    Exhibit 4H

    - Tenant Lead Law Notification Buy Form

    Exhibit 4I

    - Anatomy of a House Buy Form

    Exhibit 4J

    - Checklist for a Hazard-Free Home Buy Form

    Exhibit 4K

    - REBA Septic System Inspection Rider Buy Form

    Exhibit 4L

    - G.L. c. 111, §§ 189A–199B: The Massachusetts Lead Law Buy Form

    Exhibit 4M

    - Department of Public Health Summary of 1994 Amendments to Lead Law Buy Form

    Exhibit 4N

    - Data Brief: Childhood Lead Exposure in Massachusetts Buy Form

    Exhibit 4O

    - The Lead-Safe Certified Guide to Renovate Right Buy Form

    Exhibit 4P

    - Lead Safe Renovation Contractor Property Owner Checklist Buy Form

    Exhibit 4Q

    - Sample Oil Leak Insurance Policy Buy Form

    Exhibit 4R

    - MassDEP Fact Sheet: Homeowner Heating Oil System Upgrade and Insurance Law Buy Form

    Exhibit 4S

    - Energy Star Qualified Homes Thermal Bypass Inspection Checklist Buy Form

    Exhibit 4T

    - Massachusetts Department of Energy Resources Stretch Code Modeling and Analysis Buy Form
    Chapter 5 expand

    Title Examinations and Title Issues

    Buy Chapter
    Joel A. Stein, Esq., Law Office of Joel A. Stein

    Checklist 5.1

    - Checklist for Examining a Recorded Land Title Buy Form

    Checklist 5.2

    - Checklist for Examining a Registered Land Title Buy Form

    Checklist 5.3

    - Checklist for Taking Title Through Foreclosure Buy Form

    Exhibit 5A

    - REBA Title Standard No. 1: Period of Search Buy Form

    Exhibit 5AA

    - REBA Title Standard No. 38: Attachments of Trust Property Buy Form

    Exhibit 5B

    - Affidavit of Mortgage Repayment Buy Form

    Exhibit 5BB

    - REBA Title Standard No. 65: Undischarged Confirmatory Mortgages and Collateral Assignments of Rents/Leases Buy Form

    Exhibit 5C

    - REBA Form 15G: Discharge of Mortgage by Attorney’s Affidavit Buy Form

    Exhibit 5CC

    - REBA Title Standard No. 55: Massachusetts Tax Liens (Recorded) Buy Form

    Exhibit 5D

    - Good Funds Statute: G.L. c. 183, § 63B Buy Form

    Exhibit 5DD

    - REBA Title Standard No. 54: Federal Tax Liens (Recorded) Buy Form

    Exhibit 5E

    - REBA Title Standards Nos. 18 and 19: Municipal Liens Buy Form

    Exhibit 5EE

    - 830 C.M.R. § 62C.50.1: Lien on Property Buy Form

    Exhibit 5F

    - G.L. c. 93, § 70: Mortgage Transactions Buy Form

    Exhibit 5FF

    - Affidavit of Exemption from Federal Tax Lien Buy Form

    Exhibit 5G

    - REBA Title Standard No. 3: Federal Estate Tax Liens Buy Form

    Exhibit 5GG

    - REBA Title Standard Nos. 62, 63, and 64: Mechanic’s Liens Buy Form

    Exhibit 5H

    - REBA Form No. 32: Affidavit Pursuant to G.L. c. 65C, § 14(a) Buy Form

    Exhibit 5HH

    - Affidavit Regarding Homestead Buy Form

    Exhibit 5I

    - REBA Title Standard No. 61: Massachusetts Estate Tax Liens with Respect to Transfers for Inadequate Consideration Buy Form

    Exhibit 5II

    - REBA Form 16: Declaration of Homestead Buy Form

    Exhibit 5J

    - REBA Title Standard No. 24: Massachusetts Estate Tax Liens Buy Form

    Exhibit 5JJ

    - REBA Title Standard No. 74: Irregularities in Condominium Unit Deeds and Floor Plans Buy Form

    Exhibit 5K

    - REBA Title Standard No. 50: Pretermitted Issue Buy Form

    Exhibit 5KK

    - REBA Title Standard No. 52: Extension of Restrictions Buy Form

    Exhibit 5L

    - REBA Form 58: Deed of Distribution—M.G.L. c. 190B, § 3-907 Buy Form

    Exhibit 5LL

    - REBA Title Standard No. 57: Private Restrictions Buy Form

    Exhibit 5M

    - REBA Form 57A: Affidavit Regarding Note Secured by Mortgage to Be Foreclosed (for Mortgages Which Have Been Assigned) Buy Form

    Exhibit 5MM

    - REBA Title Standard No. 16: Acknowledgments Buy Form

    Exhibit 5N

    - REBA Form 57B: Affidavit Regarding Note Secured by Mortgage to Be Foreclosed (for Mortgages Which Have Not Been Assigned) Buy Form

    Exhibit 5O

    - REBA Title Standard No. 42: Signatory Authority for Documents Executed on Behalf of Entity Mortgage Holders and Their Attorneys in Fact Buy Form

    Exhibit 5P

    - Affidavit of Sale Buy Form

    Exhibit 5Q

    - REBA Title Standard No. 34: Powers of Attorney Buy Form

    Exhibit 5R

    - Waiver of Notice Buy Form

    Exhibit 5S

    - REBA Title Standard No. 28: Release of Right of Redemption After Foreclosure with Respect to a Federal Tax Lien Buy Form

    Exhibit 5T

    - Request for Waiver of Right of Redemption Buy Form

    Exhibit 5U

    - Moratorium Affidavit Buy Form

    Exhibit 5V

    - Deed in Lieu of Foreclosure Buy Form

    Exhibit 5W

    - Affidavit of Estoppel and Solvency Buy Form

    Exhibit 5X

    - REBA Title Standard No. 30: Bankruptcy Transfers Buy Form

    Exhibit 5Y

    - REBA Title Standard No. 21: Scriveners’ Errors Buy Form

    Exhibit 5Z

    - REBA Title Standard No. 33: Transfers by Trustee Buy Form
    Chapter 6 expand

    Title Insurance Basics

    Buy Chapter
    Lynne Murphy Breen, Esq., Chicago/Commonwealth Land Title Insurance Company

    Exhibit 6A

    - ALTA Owners Policy Jacket (1992 Form) Buy Form

    Exhibit 6AA

    - ALTA Homeowner’s Policy of Title Insurance (Revised October 22, 2003) Buy Form

    Exhibit 6B

    - Owner’s Policy of Title Insurance Buy Form

    Exhibit 6BB

    - Chart: Comparison of ALTA Standard and Homeowner’s (Expanded Protection) Policies Buy Form

    Exhibit 6C

    - ALTA Loan Policy Jacket (1992 Form) Buy Form

    Exhibit 6CC

    - ALTA 19 Series Endorsements Buy Form

    Exhibit 6D

    - Loan Policy of Title Insurance Buy Form

    Exhibit 6DD

    - ALTA 3 Series Endorsements Buy Form

    Exhibit 6E

    - Schedules A and B for Owners and Lenders Buy Form

    Exhibit 6EE

    - ALTA 17 Series Endorsements Buy Form

    Exhibit 6F

    - Property Description Sheet Buy Form

    Exhibit 6FF

    - ALTA 9 Series Endorsements Buy Form

    Exhibit 6G

    - Secondary Mortgage Market Endorsement Buy Form

    Exhibit 6H

    - ALTA Endorsement Form 9 Buy Form

    Exhibit 6I

    - ALTA Endorsement Form 8.1 Buy Form

    Exhibit 6J

    - ALTA Endorsement Form 7 Buy Form

    Exhibit 6K

    - ALTA Endorsement Form 6 Buy Form

    Exhibit 6L

    - ALTA Endorsement Form 6.2 Buy Form

    Exhibit 6M

    - ALTA Endorsement Form 5 Buy Form

    Exhibit 6N

    - ALTA Endorsement Form 4.1 Buy Form

    Exhibit 6O

    - Master Endorsement Buy Form

    Exhibit 6P

    - “Date Down” Endorsement Buy Form

    Exhibit 6Q

    - Notice of Availability of Owner’s Title Insurance Buy Form

    Exhibit 6R

    - Sample Affidavit Required by the Title Insurer to Provide Coverage Requested by the Lender Buy Form

    Exhibit 6S

    - Survey Affidavit Buy Form

    Exhibit 6T

    - Surveyor’s Report Form Buy Form

    Exhibit 6U

    - Residential Limited Coverage Policy Jacket Buy Form

    Exhibit 6V

    - Summary of Castle Enhanced Coverage Policies for One-to-Four Family Residences Buy Form

    Exhibit 6W

    - Chart: Castle Enhanced and ALTA Policies Compared Buy Form

    Exhibit 6X

    - Castle Enhanced Coverage Owner’s Policy Jacket Buy Form

    Exhibit 6Y

    - Castle Enhanced Coverage Loan Policy Jacket Buy Form

    Exhibit 6Z

    - ALTA (CATIC) Expanded Coverage Residential Loan Policy Buy Form
    Chapter 7 expand

    Exhibit 7A

    - REBA Title Standard No. 77: Prior Owner Automatic Homestead or Declared Homestead Buy Form
    Chapter 8 expand

    Exhibit 8A

    - Sample Introductory Letter 1 Buy Form

    Exhibit 8AA

    - Agreement Between Buyer and Seller Regarding Real Estate Taxes and Utilities Buy Form

    Exhibit 8B

    - Sample Introductory Letter 2 Buy Form

    Exhibit 8BB

    - Name Affidavit Buy Form

    Exhibit 8C

    - Sample Introductory Letter 3 Buy Form

    Exhibit 8CC

    - Occupancy Affidavit Buy Form

    Exhibit 8D

    - Payoff Request Buy Form

    Exhibit 8DD

    - Compliance Agreement Buy Form

    Exhibit 8E

    - Request for Hazard Insurance Binder Buy Form

    Exhibit 8EE

    - Smoke Detector and Carbon Monoxide Detector Certification and Indemnification Agreement Buy Form

    Exhibit 8F

    - Title Commitment Buy Form

    Exhibit 8FF

    - Lead Paint Indemnification Buy Form

    Exhibit 8G

    - Sample Closing Protection Letter Buy Form

    Exhibit 8GG

    - Declaration of Homestead for Homes Owned by Natural Persons Buy Form

    Exhibit 8H

    - Plot Plan Buy Form

    Exhibit 8HH

    - Declaration of Homestead for Homes Owned by Trustee(s) Buy Form

    Exhibit 8I

    - Municipal Lien Certificate Buy Form

    Exhibit 8II

    - Foreign Investment Real Property Tax Act Affidavit Buy Form

    Exhibit 8J

    - Title 5 Official Inspection Form Buy Form

    Exhibit 8JJ

    - Information for Real Estate 1099-S Report Filing Buy Form

    Exhibit 8K

    - Request for Certificate of Condominium Insurance Buy Form

    Exhibit 8KK

    - Attorney’s Certification of Title Buy Form

    Exhibit 8L

    - Buyer/Borrower Closing Disclosure (Purchase) Buy Form

    Exhibit 8LL

    - Certification for No Information Reporting on the Sale or Exchange or a Principal Residence Buy Form

    Exhibit 8M

    - Buyer/Borrower Closing Disclosure (Refinance) Buy Form

    Exhibit 8MM

    - Title Insurance Affidavit Buy Form

    Exhibit 8N

    - Seller Closing Disclosure Statement Buy Form

    Exhibit 8NN

    - Mechanic’s Lien Certificate Buy Form

    Exhibit 8O

    - ALTA Settlement Statement Buy Form

    Exhibit 8P

    - Sample Promissory Note Buy Form

    Exhibit 8Q

    - Sample Mortgage Buy Form

    Exhibit 8R

    - Property Description, “Exhibit A” Buy Form

    Exhibit 8S

    - Example Deed Buy Form

    Exhibit 8T

    - Right to Cancel Buy Form

    Exhibit 8U

    - Escrow Disclosure Buy Form

    Exhibit 8V

    - First Payment Letter Buy Form

    Exhibit 8W

    - Insurance Binder Buy Form

    Exhibit 8X

    - IRS Form W-9, Request for Taxpayer Identification Number and Certification Buy Form

    Exhibit 8Y

    - IRS Form 4506-T, Request for Transcript of Tax Return Buy Form

    Exhibit 8Z

    - Notice of Availability of Owner’s Title Insurance Buy Form
    Appendix

    Land Court Guidelines on Registered Land

    Buy Chapter
  • Editors & Authors

    Editor(s)

    Jacqueline M. Hudkins, Esq., Hudkins Law PLLC, New London

    Author(s)

    Maria Vijil Davis, Esq., Vijil Davis LLC, Wellesley
    Ruth Dillingham, Esq., Dillingham Law LLC, Barnstable
    Jacqueline M. Hudkins, Esq., Hudkins Law PLLC, New London
    Lynne Murphy Breen, Esq., Chicago/Commonwealth Land Title Insurance Company, Boston
    Philip B. Posner, Esq., Law Office of Philip B. Posner, Concord
    Martha L. Prizio, Esq., Hudkins Law PLLC, Windham
    Joel A. Stein, Esq., Law Office of Joel A. Stein, Norwell